PETALUMA, Calif., Nov. 17, 2018 (GLOBE NEWSWIRE) -- Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA) today announced
the pricing of a “best efforts” public offering of units consisting of one share of common stock, together with one half of one
warrant to purchase one share of common stock at an exercise price equal to $1.00 per whole share. The public offering price was
$1.00 per unit. The offering is expected to close on or about November 21, 2018, subject to customary closing conditions.
Certain investors, who would beneficially own, together with its affiliates and certain related parties, more
than 4.99% of the outstanding common stock as a result of the public offering, can purchase series C convertible preferred stock
convertible into shares of common stock, in lieu of purchasing common stock.
Dawson James Securities, Inc. is acting as the lead placement agent and sole book runner.
This offering is being made pursuant to an effective registration statement on Form S-1 (File No. 333-227806)
previously filed with the Securities and Exchange Commission (“SEC”) and subsequently declared effective on November 16, 2018. A
prospectus relating to the offering will be filed with the Securities and Exchange Commission. The securities may be offered only
by means of a written prospectus. When available, copies of the prospectus will be available on the SEC’s website at www.sec.gov,
or may be obtained by contacting Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th
Floor, Boca Raton, FL 33432, mmaclaren@dawsonjames.com or toll free at 866.928.0928.
Sonoma Pharmaceuticals, Inc. intends to use the net proceeds from the offering for general corporate purposes,
new product launches and working capital.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or jurisdiction.
About Sonoma Pharmaceuticals
Sonoma Pharmaceuticals is a specialty pharmaceutical company that develops and markets solutions for the treatment of
dermatological conditions and advanced tissue care. The company’s products, which are sold throughout the United States and
internationally, have improved outcomes for more than five million patients globally by reducing infections, itch, pain,
scarring and harmful inflammatory responses. The company's headquarters are in Petaluma, California, with manufacturing
operations in the United States and Latin America. European marketing and sales are headquartered in Roermond, Netherlands.
More information can be found at www.sonomapharma.com.
Forward-Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the commercial
progress and future financial performance of Sonoma Pharmaceuticals, Inc. and its subsidiaries (the “Company”). These
forward-looking statements are identified by the use of words such as “look forward,” “continue,” and “intend,” among others.
Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business
that could cause actual results to vary, including such risks that the offering of the shares may not be completed, that the market
price of the Company’s securities is volatile, that the Company has broad discretion in its use of the proceeds, that stockholders
may face dilution, the Company may not be able to obtain additional funding, as well as uncertainties relative to varying product
formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, and other
risks detailed in the Company’s filings with the Securities and Exchange Commission, including the annual report on Form 10-K,
filed on June 26, 2018. The Company disclaims any obligation to update these forward-looking statements, except as required by
law.
Sonoma Pharmaceuticals® are trademarks or registered trademarks of Sonoma Pharmaceuticals, Inc. All other
trademarks and service marks are the property of their respective owners.
Media and Investor Contact:
Sonoma Pharmaceuticals, Inc.
Bob Miller
CFO
(925) 787-6218
